Social equity in the cannabis industry

The legalization of cannabis for recreational and medicinal use continues across the U.S., providing business opportunities for numerous entrepreneurs. However, some are finding that there are still barriers to entering the cannabis industry despite a wide range of social equity programs in the states where marijuana is legal.

A new ALM webinar, Cannabis and Social Equity, will look at many of the issues surrounding social equity programs. The webinar will be held on Wednesday, July 20 at 2 p.m. ET and features several experts in the cannabis and social equity space.

Jodi Green is an attorney with Miller Nash and is a member of the firm’s cannabis and insurance recovery teams, and has over 10 years of experience in insurance coverage. She is the author and subject matter expert for ALM’s risk management course, Managing the Risks of Cannabis-touching Entities, for the ALM Cannabis Insurance Coverage Specialist designation. Green is extremely familiar with the risks cannabis businesses face and understands the value of social equity programs for these business entities.

Frank Snyder is a professor of law at the Texas A&M University School of Law. He teaches courses on contracts, business associations and business fundamentals, as well as a seminar on marijuana law, policy and business.

Mike Lomuto has extensive experience in the cannabis industry, starting in the field in the 1990s and transitioning to the regulated cannabis market. He co-founded Dao Mastery, a coaching and consulting firm, and its social equity initiative, Boost. Lomuto served on the Diversity, Equity and Inclusion committee for the National Cannabis Industry Association and now oversees the organization’s DEI initiatives. As part of that committee, he has seen first-hand the kind of impact social equity programs can have on cannabis businesses.

“Focusing on the positive impact, I would say that we’re seeing the development and galvanizing of aligned businesses and leaders, forming a necessary foundation in this industry,” he shares. “I believe the foundation is setting up for amazing things to come as we work together to build a lasting and more meaningful impact in the industry.”

The webinar will address questions such as: Why is social equity important for cannabis businesses? What is the impact on disadvantaged communities or communities of color? What are the barriers to entry that some people face? And, how do we eliminate those barriers?

More information on the webinar is available here.